What is a Special Purpose Acquisition Company?

What is a Special Purpose Acquisition Company? 

By: Abu Dhabi SME Hub
Fundraising

Anghami, the Middle East’s homegrown music streaming platform, recently announced it was going public by merging with a special purpose acquisition company, or “SPAC,” and becoming the first Arab technology company to list on Nasdaq.

So what is a Special Purpose Acquisition Company exactly?

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